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Borrego Solar Systems and Sunwheel Energy Partners Bring More Than 645 kW of Solar Energy to Five Affordable Housing Sites Across Southern California.

Borrego's Industry-Leading Solar Integration Services and Sunwheel's Power Purchase Agreement Financing Program Help Developers Benefit from Renewable Solar Energy

SAN DIEGO -- Borrego Solar Systems, Inc., a leading designer and installer of grid-tied commercial and public-sector solar electric power systems, and Sunwheel Energy Partners, a renewable energy firm that provides turnkey solar energy systems for urban and community partners, today announced a partnership to bring more than 645 kW of solar energy to five affordable housing facilities across Southern California. Borrego delivers industry-leading solar integration services and affordable housing expertise, and Sunwheel provides the crucial financing and operational components through its power purchase agreement (PPA), which enables the owners of these affordable housing sites to implement solar energy systems without the up-front capital expenditure.

"Since 2002, Borrego Solar has worked to establish a strong reputation within the affordable housing industry, and in the last two years alone, we installed more than three MW of solar energy at 30 different sites," said Mike Hall, CEO of Borrego Solar Systems, Inc. "To continue this success, it is important that we form synergistic partnerships with other leading companies in this market, and Sunwheel's PPA has emerged as a very attractive financing option for developers. We look forward to a mutually beneficial relationship with Sunwheel as we continue to bring solar energy to affordable housing communities across California."

"Affordable housing represents a significant opportunity for the solar energy industry, but a major challenge to moving projects forward has been cost--owners have been unable to budget the capital required to implement solar energy," said Michael Steinbaum, COO of Sunwheel Energy Partners. "Now, Sunwheel is offering a PPA financing option to help site owners realize the short- and long-term benefits of solar energy, and our relationship with Borrego Solar gives Sunwheel the added advantage of an integrator partner with a tremendous amount of experience in the affordable housing market."

Borrego Solar and Sunwheel are working with McCormack Baron Salazar, an urban revitalization firm based in St. Louis with offices in Los Angeles, on these projects, including a 373 kW system spread over 41 buildings at the Creekside Apartments, a 185-unit affordable housing site in Cathedral City, Calif. This site, located in Southern California Edison's (SCE) service area, is taking advantage of California's new virtual net-metering tariff and will be allocating more than 75 percent of the solar energy to tenants free of charge. The other sites, located in the Los Angeles Department of Water and Power (LADWP) service territory, include 274 kW of solar power across over four affordable housing developments in Los Angeles. In total, the five Southern California sites will produce approximately 900,000 kW hours of renewable energy annually, offsetting more than one million pounds of carbon dioxide emissions and helping to reduce operational costs for the affordable housing owners.

"At McCormack Baron Salazar, we are committed to the revitalization of America's urban areas as well as to sustainable, energy-efficient development, and implementing solar energy at these affordable housing sites reflects these values," said Tony Salazar, president of McCormack Baron Salazar's West Coast operations. "The environmental, economic and social benefits--to the sites and their residents--are significant, and we are excited to work with Borrego Solar and Sunwheel to make this a reality."

About Borrego Solar Systems, Inc.

Established in 1980, Borrego Solar Systems, Inc. is one of the nation's leading financiers, designers and installers of commercial and government grid-connected solar electric power systems. Borrego Solar's photovoltaic systems are efficient, reliable and cost-effective. With more than two decades of experience and more than 1,000 installations--totaling more than 17 MW--Borrego Solar offers a complete line of design and installation services throughout California, New England, New Jersey, New York and Pennsylvania. For more information, visit www.borregosolar.com.

About Sunwheel Energy Partners

Sunwheel Energy Partners provides turnkey solar energy systems for urban and community partners. The company's renewable energy solutions offer clean, sustainable power, financial relief and green jobs to mixed-income/affordable housing, government institutions and businesses nationwide. By combining green practices with jobs creation and real economic impact, the company aims to drive both near- and long-term economic growth in disinvested neighborhoods. For more information, please visit www.sunwheelenergy.com or contact Mike Steinbaum at mike.steinbaum@sunwheelenergy.com.

About McCormack Baron Salazar

McCormack Baron Salazar is the nation's leading for-profit developer of economically integrated urban neighborhoods, developing over $2 billion in urban investments in 33 cities around the country. MBS focuses on developing new and historic housing, retail and commercial assets for neighborhoods. www.mccormackbaron.com
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Publication:Business Wire
Geographic Code:1U9CA
Date:Apr 6, 2010
Words:752
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